KSB Limited has been awarded a significant contract by the Oil and Natural Gas Corporation Limited (ONGC) for replacing seven main injection pumps. The order, valued at approximately Rs 850 million, signifies the company’s expertise in offering comprehensive pump replacement solutions and related services for critical process applications in the oil and gas sector.
The contract stipulates that KSB Limited will deliver the pumps by the financial year 2029, with payment terms outlined as payment upon supply and installation completion. This endeavour cements KSB’s position as a pivotal player in the oil and gas industry, showcasing their ability to undertake and excel in complex engineering projects.
ONGC, India’s leading oil and gas exploration and production company, has engaged KSB Limited for this domestic project, highlighting the trust in KSB’s capabilities and services within the industry. This award does not involve any related party transactions, ensuring compliance with arm’s length principles.
For further clarity, the regulatory disclosure cites no interest from promoters or group companies related to ONGC. This order reinforces KSB Limited’s commitment to enhancing its footprint in the oil and gas sector while adhering to meticulous execution timelines and industry standards.
The financial specifics of the order were disclosed as part of the regulatory requirements under the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, ensuring transparency in significant business operations undertaken by the company.
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